In the long run, the greater burden of a specific tax will ...

[dmcintosh]

In the long run, the greater burden of a specific tax will usually be absorbed by
 a. consumers.
  b. the partyconsumers or producerswith the more elastic demand/supply curve.
  c. the party with the least elastic demand/supply curve.
  d. shareholders and employees of the firm in the form of reduced dividends and wages.

Question 2

In the short run, the incidence of a sales tax is
 a. wholly absorbed by the producer.
  b. shared between the consumer and the producer.
  c. deferred until the market is able to re-establish an equilibrium price.
  d. wholly absorbed by the consumer.

[xthemafja]

Answer to Question 1

c

Answer to Question 2

b

[dmcintosh]

Excellent

[recede]

Thanks for the timely response, appreciate it